PlayStation Plus Instant Game Collection (IGC)
The Instant Game Collection is a library of PS4, PS3 and PS Vita games available for you to download and play at no extra cost throughout the course of your PlayStation Plus membership.

If your membership ends you will no longer be able to access games from the IGC library. You will still be able to access games purchased with a Playstation Plus membership discount as these are not part of the IGC library. If you begin a new membership at a later date, you will be able to access games from your IGC library again.

I'm not going to complain about free games, but I do agree that compensation isn't entirely required. Perhaps for those on Xbox, unable to even set up their Ones on Christmas Day due to Microsoft's inability to update their firmware before sale.